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Article posted: 1/22/2013 4:29 PM

Expiring credits, deductions extended by Congress

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Mark Steber, right, interviews Justine Watson about the fiscal cliff in Madison Square Park for Jackson Hewitt's Tax Bites video series last September in New York.


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Taxpayers preparing to file their 2012 returns can breathe a collective sigh of relief. The alternative minimum tax or AMT has been patched -- permanently -- and several tax credits and deductions that technically expired at the end of 2011 were extended as part of the fiscal cliff legislation that Congress passed and President Barack Obama signed into law in January.
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